Telecom Italia S.p.A. merger through incorporation with TIM Italia S.p.A. effective from today

03/01/2006 - 09:00 PM

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Telecom Italia S.p.A. merger through incorporation with TIM Italia S.p.A. effective from today

Telecom Italia wishes to announce that the merger through incorporation of Tim Italia S.p.A. with Telecom Italia S.p.A., stipulated on 22 February 2006, is effective from today.

The operation concludes the industrial plan to integrate the Group’s fixed and mobile communications and follows the first phase of the operation which was implemented through:

1) the merger through incorporation of Tim S.p.A. into Telecom Italia S.p.A., effected on 20 June 2005 and effective from 30 June 2005;

2) the separation of the Italian mobile telecommunications business and the international mobile telecommunications business and their placement into dedicated companies (Tim Italia S.p.A. and Tim International B.V., respectively) 100%-owned by Telecom Italia S.p.A.

With the merger of the two entities (implemented on 22 February 2006) all the assets and liabilities of Tim Italia S.p.A. are added to those of Telecom Italia S.p.A. and, beginning from 1 March 2006, the revenues and costs of the controlled group will be inserted into the accounts of the latter.